The Globe and Mail reports in its Tuesday, Oct. 7, edition that Stifel analyst Ian Gillies, in a research report released Monday titled The Goldilocks scenario persists, reaffirmed his "constructive" view on Canadian engineering and construction firms, believing "organic growth continues to be well-supported by government spending most OECD regions and AI-related spend." The Globe's David Leeder writes in the Eye On Equities column that Mr. Gillies, however, warns that "there are more pockets of weakness for private capex compared to last year due to trade tensions." Mr. Gillies has reaffirmed his "buy" recommendation for Stantec. His share target advanced $15 to $175. Analysts on average target the shares at $162.36. Mr. Gillies says in a note: "High-quality earnings and top-tier management, while offering a 25E-27E EPS CAGR of 10.6 per cent. Valuation is 23.4 times 2027 P/E, but this should compress as M&A is announced. The two key catalysts are (1) M&A and (2) potential reacceleration of U.S. organic growth." The Globe reported on July 31 that Canaccord rated Stantec "buy." It was then worth $151.46. The Globe reported on Aug. 15 that National Bank rated Stantec "outperform." It was then worth $146.92.